All posts tagged: Business Formation in UAE

UAE is one of the fastest growing economies in the world and the second largest in the Arab world. GDP of UAE economy which stood at $382.58 Billion in 2017 is projected to trend around $425.00 Billion by the year 2020. The economy of UAE has grown by nearly 231 times, since its independence in 1971.

DIFC is a financial hub for the Middle East, Africa and South Asia markets that has witnessed exponential growth in the previous year. With 437 new company registrations and a net profit of $88 million, 2018 was DIFC’s year.

Dubai, a city of dreams, has always been in news for its innovative strategies, booming business market and world-class attractions. A recent addition to the list is EXPO 2020, a festival of human ingenuity, that is going to be held in Dubai from October 20 to April 10, 2020.

Dubai is famous for its stable economy and excellent infrastructure. The city boasts some of the biggest companies of the world and has emerged as the business hub of UAE. Both offshore and free-zone companies can be set up in Dubai, which offer many advantages like 100% foreign ownership and tax exemptions.

Favorable business conditions, state-of-the-art infrastructure, taxation policies and tactical location are the main crowning features which make the United Arab Emirates one of the most sought after destination for expanding business. Hundreds and thousands of international entrepreneurs and investors flock to the nation to tap potential international clients and reap the benefits of global profits. But, in order to conduct business in the UAE, a foreign businessman or investor must incorporate a formal legal entity within the geographical boundaries of the UAE through any one of the following means:

Business owners should consider hiring a consultant when they require an expert suggestion for the loopholes in the business operations that act as a roadblock towards achieving success and growth. Hiring a consultant is also cost-effective as you do not need to hire a full-time employee.

There are many business firms which are working to accomplish all their goals and they do time and again with the help of expert advices of the experienced people within the organization. But even if the business officials know what to do and how to handle the various business circumstances, many times some situations arrive in a broader economic environment where there are chances that many unforeseen circumstances may occur which the company may not be able to cope with. This is where the role of a good consultancy service provider begins.

When you start with a business idea, the first thing you need is capital. However, people with sufficient capital also mess up their business in many cases because they don’t know how to use it properly. Starting a business is no small feat and keeping it afloat is an even bigger challenge.

But people accomplish it and they do so with the help of their good advisors and of course, business consultants. The need to hire a business consultant varies depending on the stage of your business. There are business formation consultants who will tell you which direction to go in when you are just establishing the company.